Forecast of the development of the market for laboratory diagnostic services in India
The relevance of research
Laboratory diagnostics is an important component in the chain of patient research. It is with the analyzes that the process of making an accurate diagnosis and the subsequent appointment of adequate and correct treatment begins. Based on laboratory tests, the doctor draws conclusions about the presence of a particular pathology, identifies viruses, and assesses the general condition of the body.
Purpose of the study
Analysis of the state of the market for laboratory diagnostics services in India, assessment of the market size, analysis of competitors, as well as identification of factors affecting the market for laboratory diagnostics services
Content
Chapter 1. Key components of the laboratory diagnostic services market
1.1. Market size
1.2. Growth rates of the laboratory diagnostic services market
1.3. Market trends for laboratory diagnostic services
1.4. The main problems of the industry
1.5. Stage of the life cycle of the laboratory diagnostic services market
1.6. Estimation of the number of buyers and their financial capabilities
1.7. Estimated consumption per capita
1.8. Analysis of sectoral indicators of financial and economic activity
1.9. Price analysis
Chapter 2
2.1. Economic components
2.2. Social Components
2.3. Technological components
2.4. Political Components
2.5. STEP-analysis of the laboratory diagnostic services market
Chapter 3. Assessment of the degree of competition
3.1. Scale of competition (local, regional, national, global)
3.2. Number of competitors and relative market shares of the largest competitors
3.3. Compact location of industry companies in certain regions
Chapter 4 Industry Forecasts
4.1. Analysis of the impact of recent crises on the industry (the global crisis of 2008 and the currency crisis in India in 2014)
4.2. Analysis of the impact on the state aid industry at the current date
4.3. Assessment of the degree of impact of the crisis due to covid-19 on the analyzed market. Barriers existing in the laboratory diagnostics market
4.4. Prospects and growth drivers for the laboratory diagnostics market
4.5. Forecast of the development of the market for laboratory diagnostics services in the context of the current economic crisis due to covid-19
Chapter 5 Forecasting Methodology
5.1. Methods for forecasting key industry indicators
5.2. Sources of information for forecasting
5.3. Timing of forecasting
Research excerpt
Chapter 1. Key components of the laboratory diagnostic services market
1.1. Market size
At the end of 2020, the market volume amounted to … million rupees. Today, the market is in the stage of …, which is facilitated by the development of …
Laboratory diagnostics (Greek, diagnostikos - “capable of recognizing”) is a section of clinical diagnostics that studies methods for assessing physiological and recognizing and assessing pathological conditions and diseases, based on studies of the cellular and chemical composition, physicochemical and biological properties of tissues and body fluids, and as well as methods for detecting pathogens.
Laboratory diagnostics is an important component…
Laboratory examination is carried out in several stages, each of which affects the reliability of the result:
1. Preliminary stage (preanalytical) - ...
2. ...
3. ...
1.2. Growth rates of the laboratory diagnostic services market
Growth rates of the laboratory diagnostic services market in 2016-2020 stable ..., while it can be stated that the market is in the stage of ..., this is clearly indicated ... of market development in the study period as a whole, with a positive forecast for the development of medicine and the direction of diagnosing diseases in general.
The market of laboratory diagnostics services in India, according to the data of …, data of …, had a stable positive dynamics during the study period, while the highest growth rate of the market volume was in … yr. The minimum market volume was observed in … yr, it amounted to … mln Rs. , the maximum value of the market volume reached in 2020 and amounted to .. million Rs. During the pandemic, the volume of the market increased by …% compared to 2019, while, according to experts and market participants, with the demand for laboratory diagnostic services for the presence of a new coronavirus infection, the volume of delivery … In addition, in 2020, many commercial laboratories reduced prices ...
The volume of the laboratory diagnostic services market in India during the study period was …%.
GidMarket analysts suggest that in the coming years, the Indian market for laboratory diagnostics services will develop …
...
1.3. Market trends for laboratory diagnostic services
As of today, the market for laboratory diagnostic services in India is at the stage of … and has not yet reached …
The following trends influence the laboratory diagnostic services market:
...
1.4. The main problems of the industry
...
1.5. Stage of the life cycle of the laboratory diagnostic services market
The laboratory diagnostics market in Russia is in the stage of ... This stage is characterized by high rates ...
There are all the prerequisites for tightening ...
At the stage ... you need to use the extension ...
… are in the highest demand, which makes it easier to…
It should be noted that at the stage ... the base has already been formed ...
The promotion strategy at the stage ... is formed with the aim of being present in the minds of consumers as ...
1.6. Estimation of the number of buyers and their financial capabilities
Population. During 2019-2020 India's population shows... Population decline currently does not affect the demand for laboratory diagnostics services, as there are … in the market, to a greater extent the demand in the commercial sector is influenced by …
Rosstat predicts that the birth rate (the number of children per woman) will decrease from the current … to … by 2025. Earlier, Rosstat published a demographic forecast until 2036. The most optimistic scenario assumes an increase in the country's population to …
According to the results of the crisis year 2020, real disposable money incomes of Indians decreased by …% in annual terms, follows from ... From 2014 to 2017. real incomes of the population in India were declining, in 2018 they showed a small …%, and by the end of 2019 …%. At the end of 2020, they lag behind by …% from the level of 2013, the last year of steady income growth.
… expects that real disposable income will grow by …% in 2021, and then will grow by …%. A number of economists do not expect a quick recovery in real disposable income: after a slight increase in 2021, they see …
1.7. Estimated consumption per capita
Chart 4. Consumption in the laboratory diagnostics market per capita, 2016–2020
The per capita consumption of the laboratory diagnostic services market in India is broadly correlated with …
1.8. Analysis of sectoral indicators of financial and economic activity
Let's consider industry indicators of financial and economic activity of the laboratory diagnostics industry to determine the sustainability of the industry and the enterprises operating in it.
Gross margin is an economic indicator that characterizes the ratio ...
Gross margin of the laboratory diagnostic services industry in 2015-2020 is quite high and shows ... The deviation from the similar indicator for all sectors of the Indian economy throughout the entire period ... The indicator has a maximum value of ...% in 2020, while the value of the indicator by ...% ... of the indicator for all sectors of the Indian economy, which is due to …
Diagram 5. Profitability before tax (profit of the reporting period) in the industry of laboratory diagnostics services in comparison with all sectors of the Indian economy, 2015-2020, %
Return on profit before tax is an economic indicator that characterizes ...
Profitability before tax in the laboratory diagnostic services industry in 2015-2019 significantly ... the profitability of profit before tax in all sectors of the Indian economy, in 2020 the indicator increases and significantly ... This fact is associated primarily with the demand for laboratory diagnostics services during the period ...
The current (total) liquidity ratio is a financial ratio equal to the ratio ...
The value of the coefficient is considered normal ...
Current liquidity ratio for the laboratory diagnostic services industry in 2015-2020 quite ..., during the study period, ... are observed, while the indicator remains ... acceptable values. In 2017, the indicator reached ... times, followed by ... years, while the indicator remains at ...
The absolute liquidity ratio is a financial ratio equal to the ratio of cash and short-term financial investments to short-term liabilities (current liabilities). Data source...
The financial position of the industry is recognized as good when the absolute liquidity ratio ...
The value of the absolute liquidity of the laboratory diagnostic services industry during the study period is … the same indicator for all sectors of the Indian economy, with the exception of … years, while it remains within … The minimum value of absolute liquidity is estimated at … times, it was recorded in … years. The maximum value falls on 2020 and amounts to … times. The financial situation in the industry is estimated as ...
1.9. Price analysis
The dynamics of prices for laboratory diagnostic services in the period from 2016 to the end of the third quarter of 2021 has ... character - an indicator annually ..., as evidenced by the consumer price index, which in all periods ...%. This metric is measured by...
Next, we will consider prices in the laboratory diagnostics market, following the example of prices for a general blood test in the study period for the union territories according to ...
Table 4. Average prices in the market for laboratory diagnostic services according to F
The maximum prices for a complete blood count are fixed in … the federal district, which is associated with a high level of …, as well as population density and demand ... The minimum prices for a complete blood count are fixed in … the federal district, the reason for this fact is the availability ...
Chapter 2
2.1. Economic components
Gross domestic product (GDP) is one of the most important macroeconomic indicators.
It reflects the market value of all final goods and services intended for direct consumption that have been produced ...
GDP is expressed in national currency, or (if necessary) converted into foreign currency at the exchange rate, and can also be presented at purchasing power parity.
The decline in the GDP physical volume index for 2020 was affected by the fall in global demand for energy resources and the introduction of restrictive measures aimed at …
Decreasing global demand for energy resources has affected the reduction of value added in the mining industry (…%).
Significantly reduced...
Final consumption expenditures decreased compared to 2019 (…%) due to a decrease in household final consumption expenditures (…%) due to a drop in consumer demand for ...
Final consumption of the general government and non-profit institutions serving households …
...
2.2. Social Components
...
2.3. Technological components
...
2.4. Political Components
...
2.5. STEP-analysis of the laboratory diagnostic services market
Table 5. STEP analysis of factors influencing the market for laboratory diagnostic services
Based on the analysis of the factors affecting the Indian laboratory diagnostic services market, there is a predominant influence of …
Significant limiting factors include…
Stimulating influence on the analyzed market is exerted by …
Chapter 3. Assessment of the degree of competition
3.1. Scale of competition (local, regional, national, global)
...
3.2. Number of competitors and relative market shares of the largest competitors
The Indian market for laboratory diagnostics services is represented by … those conducting laboratory diagnostics under the CHI program, as well as private … At the same time, large market operators also provide … It is also worth noting that many companies are not limited to working on the market in the region where …
Table 6 provides information on the 5 largest market operators, in total there are more than …
For the largest enterprises in the laboratory diagnostic services industry in India, the main activity is the activity in the field of medicine …
The market shares of the largest market operators are calculated based on the revenue of such enterprises in the …
Diagram 10. Shares of the largest competitors in the laboratory diagnostic services market in 2020, %
The leader of the Indian market of laboratory diagnostics services is the group of companies “…” with a market share of …%, the second place with a share of …% is occupied by the group of companies “…”, closing the top three ... It should be noted that the largest operators of the market have developed ... of companies is …%, which indicates … market concentration in the commercial segment, the total share of other companies is …%, while the share of each of the other companies is …%.
GidMarket analysts suggest that in the coming years, the list of market leaders is most likely to remain …
amounted to … million Rs., the total revenue of these companies increased by …% compared to 2019, while the market volume in 2020 as a whole increased by …% compared to the same indicator in 2019.
The revenue of companies from the TOP-5 in 2020 increased for each company to a different extent compared to 2019, the increase amounted to …%. One of the reasons for this growth in revenue for the largest companies in the market of laboratory diagnostics services was the transfer of research to …
In the period 2016-2020 the revenue of the TOP-5 companies showed unequivocally positive dynamics, which is associated with the stage of …
3.3. Compact location of industry companies in certain regions
To determine the compactness of the placement of companies in the industry, let's consider the revenue of participants in the laboratory diagnostic services market in the states of India, which will indicate …
Diagram 12. Compactness of location of companies in the industry in certain regions
The largest number of companies operating in the field of laboratory diagnostic services operate in … – …% of the total. This is primarily due to the fact that ... In second place is … (…%), which is also associated with a high population density and a developed healthcare system, in ... In third place is …%, followed by ... Shares of other regions …%, together they occupy …%.
Chapter 4 Industry Forecasts
4.1. Analysis of the impact of recent crises on the industry (the global crisis of 2008 and the currency crisis in India in 2014)
In 2020, many markets felt the impact of the pandemic and the onset of the economic crisis, the laboratory diagnostics market in India was no exception, but the 2020 crisis affected the market from the other side, opening …
Let us consider the impact of recent crises (the global crisis in 2008 and the currency crisis in India in 2014) on the laboratory diagnostics industry in India.
Table 7. Assessment of the impact of recent crises on the industry
During the crises of 2008-2010. and 2014-2016 The laboratory diagnostic services market did not lose volumes, which is due to …
4.2. Analysis of the impact on the state aid industry at the current date
Forecasting the development of the laboratory diagnostics market in India is impossible without understanding the economic situation in the country, as well as the impact of the spread of a new coronavirus infection and the measures taken to support the population and businesses that have been especially affected ... As a result of the spread of a new coronavirus infection, approved by the Government of India Decree No. 03.04.2020 dated 434, …
For businesses in the affected industries, additional support measures are provided, they are discussed in Table 8.
4.3. Assessment of the degree of impact of the crisis due to covid-19 on the analyzed market. Barriers existing in the laboratory diagnostics market
...
4.4. Prospects and growth drivers for the laboratory diagnostics market
...
4.5. Forecast of the development of the market for laboratory diagnostics services in the context of the current economic crisis due to covid-19
...
Chapter 5 Forecasting Methodology
5.1. Methods for forecasting key industry indicators
...
5.2. Sources of information for forecasting
...
5.3. Timing of forecasting
...
Diagrams
Diagram 1. Dynamics of the market volume of laboratory diagnostics services, 2016–2020
Figure 1. Life cycle stage of the market for laboratory diagnostic services
Diagram 2. Population dynamics in India, as of 01 Jan. 2012–2021
Chart 3. Dynamics of real income of the population of India, 2012-2020, available period 2021
Chart 4. Consumption in the laboratory diagnostics market per capita, 2016–2020
Diagram 5. Profitability before tax (profit of the reporting period) in the industry of laboratory diagnostics services in comparison with all sectors of the Indian economy, 2015-2020, %
Diagram 6. Current liquidity (total coverage) for the laboratory diagnostic services industry for 2016–2020, times
Chart 7. India's GDP evolution, 2012-2020, available period 2021
Chart 8. Monthly dynamics of the US dollar against the rupee, 2016-2021 available period, Rs. for 1 US dollar
Diagram 9. Dynamics of registered diseases (by main classes of diseases) in a patient diagnosed for the first time in his life, 2015-2020, thousand cases
Diagram 10. Shares of the largest competitors in the laboratory diagnostic services market in 2020, %
Diagram 11. Dynamics of the total revenue of the largest operators of the laboratory diagnostic services market (TOP-5) in India, 2016–2020
Diagram 12. Compactness of location of companies in the industry in certain regions
Diagram 13. Forecast of the volume of the market for laboratory diagnostics services in 2021-2025
Tables
Table 1. Gross margin of the laboratory diagnostic services industry compared to all sectors of the Indian economy, 2015-2020, %
Table 2. Absolute liquidity of the laboratory diagnostic services industry compared to all sectors of the Indian economy, 2016-2020, times
Table 3. Consumer price indices in the market for laboratory diagnostic services in India in 2016-2021 (available period), %
Table 4. Average prices in the market for laboratory diagnostic services in the Union Territories
Table 5. STEP analysis of factors influencing the market for laboratory diagnostic services
Table 6. Main companies participating in the laboratory diagnostic services market in 2020
Table 7. Assessment of the impact of recent crises on the industry
Table 8. Analysis of the impact on the industry of the state aid proposed to date
Table 9. Forecast indicators of the development of the Indian economy
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